Artificial intelligence-based system ChatGPT, based on historical data and current events in the cryptoasset market, has provided a prediction that the price of Polkadot (DOT) could reach $150 by the end of 2023 and $250 by the end of 2024.
This took into account the outcome of the Polkadot Decoded conference, which was held in Copenhagen on June 28 and 29. At the event, Polkadot founder Gavin Wood unveiled a new roadmap for the project, according to which among the changes to Polkadot’s architecture is an expected shift from the current leasing model to a time-sale model.
“Overall, the Polkadot ecosystem is designed to foster innovation and collaboration between different blockchains. It provides developers with a flexible and scalable platform for building a wide range of decentralized applications,” ChatGPT said in its rationale.
The forecast commentary notes that, as of the end of the first quarter of 2023, more than 40 parachains have won new auction spots on Polkadot. The ecosystem continues to expand as new parachain developments emerge, which should drive demand and increase pressure on DOT costs.
However, experts noted that the ChatGPT system is flawed and can only be conditionally used for predicting cryptoasset prices. Some of the results obtained were inaccurate or false, with large deviations from the real price data collected from TradingView. In particular, ChatGPT’s forecast failed to take into account that the asset has been trading on a downward curve for the past year, suggesting that Polkadot bulls and investors are gradually exiting the market.
Earlier, cryptocurrency blogger and CNBC analyst Ran Neuner said that not all altcoins will be able to survive the next bearish trend in the cryptocurrency market, but DOT has chances.